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April 30, 2010

Mr. Karthick
61A “Padmashree Nillaya”
5th cross, Opp. Govt. Hospital
Doddanekundi, Marathahalli Post
Bangalore – 37

Dear Karthick,

We are pleased to inform you that effective from 1st May 2010 your employment with us
would be on the following terms and conditions:

1. Your designation will be Associate Research Director and will be based in


Bangalore office. However you shall be reassign and / or transfer to any other
similar position or place in the company.

2. You will be handling the complete Research activities and any other assignments
delegated to you time to time.

3. Your gross salary would be Rs.538,000/- (Rupees Five Lac Thirty Eight Thousand
only) per annum, subject to deduction of statutory contribution/s and applicable
taxes if any. Your salary break-up would be as follows:

Salary heads Per Annum


Basic 180,000
HRA 90,000
Conveyance 18,000
CCA 72,000
Other allowances* 156,400
PF (company) 21,600

Total cost to company 538,000


*Other allowances include Medical, LTA, and Attire etc

4. For the purpose of contribution to provident fund, computation is based on the


basic pay as per the existing rules.

5. To avail the tax exemption (if applicable) under medical allowance up to the limit
specified by the concerned authorities time to time, original bills shall be produced
by end of the year.

6. Eligibility to avail LTA benefit while computation of tax would be after completion of
one year in service/companies rolls and submission of the original bills/tickets after
proceeding on minimum 5 days sanctioned leave.

7. Your remuneration package is strictly confidential between you and the company
and should not be discussed with any one nor divulged to anyone in any manner
whatsoever (except your immediate superior/HR).
8. Performance and salary reviews will always be subject to the schedule as may be
implemented by the company time to time. Also salary structure of the company
may be altered / modified at any time with/without intimation but your salary
package remains the same unless it is changed by the company.

9. You shall be entitled to avail leave facilities as per company rule as amended from
time to time.

10. You shall not disclose or divulge any of the company’s confidential information
which you may acquire during your period of services with us to any outside party.
Confidential information means any company proprietary information, technical
data, services, customer list and customers, software and any other business
information disclosed to you by the company either directly or indirectly during
your association with the company.

11. If any time you decide to leave the services of the company you will be required to
give at least one months’ notice in writing or equivalent monetary compensation.
Company can also terminate your services by giving one month notice or
equivalent compensation. But if found doing fraud activities that shall harm the
business or reputation of the company, your services will be terminated with
immediate effect. In the event of your serving notice to the company by submitting
resignation letter, your relieving from the services will be governed by the terms
and conditions of employment in force at that point in time.

12. During the course of your employment with the company, you will not directly or
indirectly own, manage, operate, consult or to be employed with any other
organization in India or abroad.

13. You will be governed by the Company’s rules and regulations as enforced from
time to time on matters whether specified herein or not including on the matters
such as designation, emoluments and the structure thereof, working hours etc.
Company’s decision on all such matters shall be final and binding on you.

Please return the duplicate copy of this letter duly signed in token of your acceptance of
the above terms and conditions.

Thanking you,

Yours faithfully,
For AZ Research Partners Pvt. Ltd.

Sujay Misra
Managing Director

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